Before the Bell | Kohl's earnings miss estimates by a lot

Stock futures were under pressure Thursday, a day after Dow Jones Industrial Average experienced its biggest one-day drop since 2020.

International stocks retreated, tracking a U.S. selloff, but muted moves in equity futures suggested American markets could stabilize in Thursday's trading session.

Economic conditions are raising the specter of a period of so-called stagflation that could erode living standards around the world.

The move caps a stunning reversal for a firm that lost big on the surge in meme stocks in the early days of the Covid-19 pandemic.

Kohl's is the next big retailer to take a swing at first-quarter earnings, slated to report ahead of the opening bell on Thursday. Analysts expect Kohl's to post adjusted earnings of 69 cents a share on $3.6 billion in revenue, according to FactSet. Same-store sales are expected to grow at a 0.5% rate year over year.

Klarna Bank AB is seeking to raise new funds that could value the fintech giant at almost a third less than the roughly $46 billion valuation it achieved just under a year ago, according to people familiar with the matter, an example of the struggles facing the tech investing world.